Concentric Capital Strategies LP Makes New $5.74 Million Investment in Jacobs Solutions Inc. (NYSE:J)

Concentric Capital Strategies LP bought a new position in shares of Jacobs Solutions Inc. (NYSE:J) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 43,839 shares of the company’s stock, valued at approximately $5,739,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Sei Investments Co. boosted its position in Jacobs Solutions by 32.1% in the 2nd quarter. Sei Investments Co. now owns 271,760 shares of the company’s stock worth $37,968,000 after purchasing an additional 66,002 shares in the last quarter. Aigen Investment Management LP purchased a new stake in Jacobs Solutions during the third quarter worth $709,000. Asset Management One Co. Ltd. grew its position in Jacobs Solutions by 6.8% during the third quarter. Asset Management One Co. Ltd. now owns 76,308 shares of the company’s stock valued at $9,989,000 after buying an additional 4,858 shares during the period. MBB Public Markets I LLC purchased a new position in Jacobs Solutions in the second quarter valued at $1,302,000. Finally, Marks Group Wealth Management Inc raised its position in shares of Jacobs Solutions by 13.6% in the third quarter. Marks Group Wealth Management Inc now owns 64,074 shares of the company’s stock worth $8,387,000 after acquiring an additional 7,695 shares during the period. 85.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

J has been the subject of several recent analyst reports. StockNews.com started coverage on Jacobs Solutions in a research note on Tuesday, November 26th. They issued a “buy” rating for the company. Royal Bank of Canada cut their price objective on Jacobs Solutions from $167.00 to $152.00 and set an “outperform” rating for the company in a research report on Thursday, November 21st. Robert W. Baird increased their target price on Jacobs Solutions from $147.00 to $149.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Benchmark lowered shares of Jacobs Solutions from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, Raymond James raised shares of Jacobs Solutions from a “market perform” rating to an “outperform” rating and set a $160.00 price objective on the stock in a report on Friday, October 4th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $156.50.

Jacobs Solutions Stock Performance

J opened at $141.23 on Monday. Jacobs Solutions Inc. has a twelve month low of $104.90 and a twelve month high of $150.54. The firm has a market capitalization of $17.51 billion, a PE ratio of 22.31, a PEG ratio of 2.13 and a beta of 0.71. The company has a current ratio of 1.20, a quick ratio of 1.14 and a debt-to-equity ratio of 0.30. The firm’s 50-day moving average price is $141.51 and its 200 day moving average price is $142.39.

Jacobs Solutions (NYSE:J) last posted its quarterly earnings results on Tuesday, November 19th. The company reported $1.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.71). Jacobs Solutions had a net margin of 5.16% and a return on equity of 14.82%. The company had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $4.50 billion. During the same quarter last year, the company earned $1.90 earnings per share. Jacobs Solutions’s revenue for the quarter was up 4.4% on a year-over-year basis. As a group, sell-side analysts expect that Jacobs Solutions Inc. will post 6.06 EPS for the current fiscal year.

Jacobs Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, October 25th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend was Friday, October 25th. Jacobs Solutions’s dividend payout ratio is currently 18.33%.

About Jacobs Solutions

Jacobs Solutions Inc provides consulting, technical, engineering, scientific, and project delivery services for the government and private sectors in the United States, Europe, Canada, India, Asia, Australia, New Zealand, the Middle East, and Africa. It operates through Critical Mission Solutions, People & Places Solutions, Divergent Solutions, and PA Consulting segments.